Question: please help, they all use the same question btw! thnaks! Required information The Foundational 15 (Algo) (LO3-1, L03-2, LO3-3, LO3-4) [The following information applies to










Required information The Foundational 15 (Algo) (LO3-1, L03-2, LO3-3, LO3-4) [The following information applies to the questions displayed below.) Bunnell Corporation is a manufacturer that uses job-order costing On January 1, the company's inventory balances were as follows: Raw materials Work in process Finished goods $ 63,000 $ 22,200 $ 52,500 The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rate of $1150 per direct labor-hour was based on a cost formula that estimated $460,000 of total manufacturing overhead for an estimated activity level of 40.000 direct labor-hours. The following transactions were recorded for the year a. Raw materials were purchased on account 5618,000, b. Raw materials used in production, $569,400. All of of the raw materials were used as direct materials c. The following costs were accrued for employee services direct labor $410,000, indirect labor, $150,000, selling and administrative salaries, $338.000 d.incurred various selling and administrative expenses (eg, advertising, sales travel costs, and finished goods warehousing). $382.000 e incurred various manufacturing overhead costs te q. depreciation, insurance, and utilities). $310,000 1. Manufacturing overhead cost was applied to production. The company actually worked 41000 direct labor-hours on all jobs during the year Jobs costing 51 372.600 to manufacture according to their job cost sheets were completed during the year, h. Jobs were sold on account to customers during the year for a total of $3,202,500. The jobs cost $1,382,600 to manufacture according to their job cost sheets Foundational 3-2 (Algo) 2. What is the ending balance in Raw Materials? Raw Materials Debit Credit as follows: Raw materials Work in process Finished goods $ 63,000 $ 22,200 $ 52,500 The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the co predetermined overhead rate of $11.50 per direct labor-hour was based on a cost formula that estimated $ manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transact recorded for the year a Raw materials were purchased on account, $618,000. b. Raw materials used in production, $569,400. All of of the raw materials were used as direct materials c. The following costs were accrued for employee services: direct labor, $410,000 indirect labor, $150,000 administrative salaries, $338,000. d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goo warehousing). $382,000. e incurred various manufacturing overhead costs (e.g. depreciation, Insurance, and utilities). $ 310,000. 1. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor- Jobs during the year 9. Jobs costing $1,372,600 to manufacture according to their job cost sheets were completed during the year h. Jobs were sold on account to customers during the year for a total of $3,202,500. The jobs cost $1,382,600 manufacture according to their job cost sheets. Foundational 3-4 (Algo) 4. What is the total amount of manufacturing overhead applied to production during the year? Manufacturing overhead applied Required information The Foundational 15 (Algo) (LO3-1, LO3-2, LO3-3, LO3-4) [The following information applies to the questions displayed below.) Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows: Raw materials $ 63,000 Work in process $ 22,200 Finished goods $ 52,500 The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rate of $11.50 per direct labor-hour was based on a cost formula that estimated $460,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded for the year a. Raw materials were purchased on account, $618,000 b. Raw materials used in production, $569.400. All of of the raw materials were used as direct materials c. The following costs were accrued for employee services: direct labor, $410,000; indirect labor, $150,000, selling and administrative salaries, $338,000 d. Incurred various selling and administrative expenses (eg, advertising, sales travel costs, and finished goods warehousing). $382.000. e. Incurred various manufacturing overhead costs (eg.depreciation, insurance, and utilities). $310,000. - Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all Jobs during the year g Jobs costing $1.372,600 to manufacture according to their job cost sheets were completed during the year. h. Jobs were sold on account to customers during the year for a total of $3,202,500. The jobs cost $1,382,600 to manufacture according to their job cost sheets. Foundational 3-5 (Algo) 5. What is the total manufacturing cost added to Work in Process during the year? Total manufacturing cost manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The foll recorded for the year. a. Raw materials were purchased on account, $618,000. b. Raw materials used in production, $569,400. All of of the raw materials were used as direc c. The following costs were accrued for employee services: direct labor, $410,000; indirect la administrative salaries, $338,000. d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, ar warehousing). $382,000. e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities). f. Manufacturing overhead cost was applied to production. The company actually worked 41,0 jobs during the year. g. Jobs costing $1,372,600 to manufacture according to their job cost sheets were completed h. Jobs were sold on account to customers during the year for a total of $3,202,500. The jobs manufacture according to their job cost sheets. Foundational 3-7 (Algo) 7. What is the ending balance in Work in Process? Work in Process Debit Beginning balance Credit Ending balance The Foundational 15 (Algo) (LO3-1, LO3-2, LO3-3, LO3-4) [The following information applies to the questions displayed below] Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows: Raw materials $ 63,000 Work in process $ 22,200 Finished goods $ 52,580 The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rate of $11.50 per direct labor-hour was based on a cost formula that estimated $460,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hoursThe following transactions were recorded for the year a. Raw materials were purchased on account, $618,000. b Raw materials used in production, $569.400. All of of the raw materials were used as direct materials. c. The following costs were accrued for employee services: direct labor. $410,000; indirect labor, $150,000, selling and administrative salaries, $338,000 d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods warehousing). $382,000 e Incurred various manufacturing overhead costs (eg. depreciation, insurance, and utilities). $310,000 1 Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all Jobs during the year g Jobs costing S1372,600 to manufacture according to their job cost sheets were completed during the year, h Jobs were sold on account to customers during the year for a total of $3.202,500. The jobs cost $1,382.600 to manufacture according to their job cost sheets. Foundational 3-8 (Algo) 8. What is the total amount of actual manufacturing overhead cost incurred during the year? Total actual manufacturing overhead cont g. Jobs costing $1,372.600 to manufacture according to their job cost sheets were completed during the year h Jobs were sold on account to customers during the year for a total of $3,202,500. The jobs cost $1,382,600 manufacture according to their job cost sheets Foundational 3-9 (Algo) 9. Is manufacturing overhead underapplied or overapplied for the year? By how much? Foundational 3-10 (Algo) 10. What is the cost of goods available for sale during the year? Cost of goods available for sale Foundational 3-12 (Algo) 12 What is the ending balance in Finished Goods? Finished Goods Credit Debit Beginning balance Ending balance Foundational 3-13 (Algo) 13. Assuming that the company closes its underapplied or overapplied overhead to Cost of Goods Sold, what is the adjusted cost of goods sold for the year? Adjusted cost of goods sold uring the h Jobs were sold on account to customers during the year for a total of $3,202,500. The jobs cost $1,33 manufacture according to their job cost sheets. Foundational 3-14 (Algo) 14. What is the gross margin for the year? Gross margin Ting the year for a total of $3,202.500. The jobs cost $1,382,600 to manufacture according to their job cost sheets Foundational 3-15 (Algo) 15. What is the net operating income for the year? Net operating income
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